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Bansal Industries at Ludhiana, Punjab manufactures Product X. On 1 st January 2023, there were 500 unitsof finished productin stock. Otherstocks on 1 st January
Bansal Industries at Ludhiana, Punjab manufactures Product X. On 1st January 2023, there were 500 unitsof finished productin stock. Otherstocks on 1st January 2023 were as under:
Work in progress | Rs. 5740 |
Raw materials | Rs. 11,620 |
The information available from cost records for the year ended 31st December 2023 was as follows:
Particulars | Rs. |
Indirect labour | 12,160 |
Direct labour | 32,640 |
Freight on Raw Materials purchased | 5,570 |
Stock of Raw materials on 31-12-2023 | 9,640 |
Other FactoryExpenses | 31,730 |
Work in progress on 31-12-2023 | 7,820 |
Sales - 15,000 units | 3,60,000 |
Indirect Materials | 21,390 |
Total Manufacturing costs incurred | 1,94,080 |
There are 1,500 unitsof product in finished goodsstock on 31st December 2023. Finishedgoods stock is to be properlyvalued at the beginning and at the end of 2023 (assuming the same cost used for both). prepare cost sheet
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